Office Depot Inc (ODP) Receives Consensus Rating of “Hold” from Brokerages

Office Depot Inc (NASDAQ:ODP) has been given an average rating of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $5.08.

A number of equities research analysts have weighed in on ODP shares. Jefferies Group restated a “hold” rating and set a $4.15 price target (down previously from $5.00) on shares of Office Depot in a research report on Friday, October 6th. BidaskClub upgraded Office Depot from a “sell” rating to a “hold” rating in a research report on Saturday, October 7th. JPMorgan Chase & Co. downgraded Office Depot from a “neutral” rating to an “underweight” rating in a research report on Monday, October 30th. Zacks Investment Research upgraded Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Finally, ValuEngine downgraded Office Depot from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st.

Shares of Office Depot (ODP) opened at $3.59 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.52 and a quick ratio of 0.93. Office Depot has a 12-month low of $2.97 and a 12-month high of $6.26. The stock has a market capitalization of $1,852.86, a price-to-earnings ratio of 6.08, a P/E/G ratio of 0.58 and a beta of 2.87.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the business posted $0.16 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. analysts expect that Office Depot will post 0.44 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IndexIQ Advisors LLC grew its stake in shares of Office Depot by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 185,796 shares of the specialty retailer’s stock worth $844,000 after purchasing an additional 84,311 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Office Depot during the 3rd quarter valued at approximately $400,000. FMR LLC boosted its position in Office Depot by 46.5% during the 2nd quarter. FMR LLC now owns 3,061,202 shares of the specialty retailer’s stock valued at $17,265,000 after acquiring an additional 971,036 shares in the last quarter. ClariVest Asset Management LLC boosted its position in Office Depot by 5.5% during the 3rd quarter. ClariVest Asset Management LLC now owns 1,256,800 shares of the specialty retailer’s stock valued at $5,706,000 after acquiring an additional 65,300 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Office Depot by 17.5% during the 2nd quarter. Wells Fargo & Company MN now owns 1,001,429 shares of the specialty retailer’s stock valued at $5,648,000 after acquiring an additional 149,001 shares in the last quarter. 93.12% of the stock is currently owned by institutional investors.

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About Office Depot

Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

Analyst Recommendations for Office Depot (NASDAQ:ODP)

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